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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.
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AIM - WINNERS
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Midatech Pharma PLC, up 37% at 2.88 pence, 12-month range 2.1p-20p. The biotechnology company provides an update on its agreement to acquire Bioasis Technologies Inc for CAD7.4 million, around GBP4.4 million, which will be satisfied by the issue of 75.9 million shares. Bioasis is a multi-asset rare and orphan disease biopharmaceutical company. The deal was first announced last week. Midatech also plans an equity fundraising of USD10 million. The firm on Monday says that, having conferred with shareholders, it is now no longer seeking cancellation of its AIM listing.
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LBG Media PLC, down 17% at 80p, 12-month range 48.44p-213p. The Ladbible-owner said it expects annual revenue of GBP63 million in 2022, and adjusted earnings before interest, tax, depreciation, and amortisation of GBP16 million. In 2021, LBG posted revenue of GBP54.5 million and adjusted Ebitda of GBP16.8 million. "Given the momentum seen in [the second half], and cost reduction exercise completed in November 2022, management is confident about the outlook for continued growth in 2023," LBG said.
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AIM - LOSERS
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Angus Energy, down 21% at 1.47p, 12-month range 0.56p-2.95p. The energy company closes a GBP7.1 million equity fundraise, at a placing price of 1.65p. The price is an 11% discount to the closing price of 1.86p on Friday. The proceeds will be used to accelerate its drilling programme to expand production, evaluate acquisition opportunities, fund operational activities, as well as to settle of a liability recently arising from its hedging arrangements.
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By Elizabeth Winter, Alliance News senior markets reporter
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